Like I said, taking money out doesn't have a real benefit and is just a temporary feel good effect, just like eating a piece of candy from time to time when you're on a diet.
The issue is not so much how can you recover from the losses and get back to break even; the challenge is more around how...
I'm doing a couple of things. I'm reducing my size significantly and I'm also taking a lot of money out of the account. The 2nd part is just a feel good, it's nice to have money show up in your bank account for once, no real long term benefit though. The 1st part is to somewhat clean the slate...
S&P closing at another all time high but what else is new. My trading account is at a 20 month low.
Closing this week (short week) down 4k. Pretty much all due to my auto-trades which lost over 5200 this week.
Here are today's result
Auto Trades: -3286
Everything else: -1570
Interesting trading day. At one point (when the e minis were up 10 points) I was down about 6k, pretty evenly spread between the auto-trades and the existing manual positions. By the time we closed I finished t breakeven.
Auto Trades: 25
Everything else: 275
Thanks for the offer but I'll pass for now. My IRA didn't have a losing month this year either, if I remember correctly it just had 1 losing month last year. All I'm doing there is selling puts. Needless to say it doesn't really generate the return I'm looking for without taking some serious...
Trying something new here. For everyone but me, you should probably ignore these posts since my results are in the bottom 2% of elitetrader. However I'm hoping this helps me a little.